Category Archives: Joe Lubin

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Ethereum Founder and Coinbase CEO See Positive Growth in Crypto

Joe Lubin, co-founder of Ethereum, has commented that the fall in recent cryptocurrency prices is no constraint to future positive market growth.

The comments were made in an interview with Bloomberg yesterday when the ConsenSys CEO indicated that the big picture was the relevant factor for investors, and not to focus on “pimples on a chart” as he put it, referring the peaks and troughs of Bitcoin prices.

He spoke of the “bubble” factor, suggesting that each of the six major events has always bought a surge of activity. He argues:

“…we build more fundamental infrastructure, we see a correction, and the potential gets even more impressive… I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem and the growth of development in the ecosystem. We are probably two orders of magnitude bigger as a developer community than we were eight or ten months ago.”

The current market trend should be expected, Lubin suggests. He argues that much of the current volatility has to be put down to investor speculation rather than flaws in the underlying technology, suggesting that cryptocurrencies were very much still on the right positive trajectory. Regarding his own case as a CEO, he said:

“So we can look at the price and make growth plans and projections, and we’re still on track, basically. So this is not unexpected.”

Lubin added that each value surge over the past years indicated that the current situation is just like the last “six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening”.

In other news, Coinbase CEO Brian Armstrong has revealed that the company signed up 50,000 new customers a day last year and on Tuesday reflected Lubin’s view that the general trend is positive, suggesting:

“This technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau… People’s expectations are all over the map, but real-world adoption has been going up.”

At time of press, Bitcoin is currently trading at USD 6,429, up 6.47% on 24-hr trading. Ethereum is trading at USD 285, up by 6.93% on 24-hr trade.

 

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Ethereum Co-Founder Joe Lubin: Blockchain and Crypto Can Transform Society

Ethereum co-founder Joseph Lubin believes blockchain will have the same kind of impact in the future as the internet had in the late nineties, writes Business Insider. The co-founder of ConsenSys was speaking at the MoneyConf in Dublin where the blockchain company has opened its new office.

Lubin made it clear that he was looking for blockchain to make a lasting impact: “This technology is so profound, it’s going to do so many amazing things for economic, social, and political systems worldwide… We’ve really no concern that the ecosystem or the technology is in real danger.”

He went on to compare current activity fintech space to the dot-com boom of the late 90s, a period of extreme growth and intense activity in the usage and adaptation of the internet. Lubin suggested there was clearly a parallel today, given the same degree of high investment coupled with high gains and losses in cryptocurrency activity, according to the success of company projects.

The entrepreneur argued that the growth of the internet was mirrored today by current developments in the space, as cryptocurrencies and their underlying technology were repeating history:

“There was a tremendous amount of creative destruction in the dotcom era that laid the foundation and taught all of us how to build an effective internet, an effective world wide web, and really transform society. I think that we will see dynamics like that in place in the blockchain space.”

He was clear in his views that although scams are clearly not welcome, they don’t impact of the overall image of the industry, and that the US Securities and Exchange Commission (SEC) was right in taking these issues on in order to clean up the space. He put the crypto “bad-actor syndrome” down to the failings of human nature and the fact that cryptocurrency investment was open for all.

Lubin pointed to the West in terms of where some of the most progressive movements in the industry were originating, citing the US and Europe as the major source of innovation.

 

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